Did you know that you don’t have to rely on that massive water heater that’s been the go-to for as long as you can remember? You can get hot water from a much smaller tank that’s about the size of a suitcase? Replacing a water heater can be a costly expense, so it’s important to consider the efficiency, cost and expected longevity of a new one.
Traditional storage water heaters pull water from the tank that is constantly being reheated to remain at a desired temperature. (A typical gas-fired tank wastes 40–50% of the fuel it burns!) Tankless water heaters are able to produce hot water on demand: Water that gets pulled from the source passes through a heating element to the faucet.
Consider these PROs and CONs of a tankless water heater.
PROs
Going tankless gives your home an endless supply of hot water. A tankless water heater can deliver up to three gallons of hot water every minute, so you won’t have to wait long for hot
water to start coming out of the faucet.
Tankless water heaters save a lot of space. They’re also very energy efficient and can save you up to 50% compared to the cost to power tank-type heaters. And tankless heaters can perform effectively for 20–30 years, a much longer lifespan than the typical 10–15 years of storage water heaters.
CONs
A tankless water heater does have all those very positive benefits, but to fully understand the decision to switch, it’s important to also know the possible downsides. One is that if your water heater runs on electricity. If you lose power due to a storm or a downed power line, you won’t have any hot water.
Tankless water heaters also tend to have some output challenges when you want hot water for two or more reasons at the same time. For example, if the dishwasher is running and someone is taking a shower at the same time, the water output may decrease noticeably.
The last downside is that the initial cost for a tankless water heater and its installation can tend to be a bit pricey. If electricity is your only option for powering any type of water heater, the installation cost may be even higher than usual if your home’s electrical system must be upgraded to handle the energy requirements of a tankless water heater.